Operational Benefits

Active Management

The vehicles we advise are constantly monitored and controlled in order to maintain balanced investments, consistent with our philosophy.

Cost Savings

Significant economies of scale are achieved, as a consequence of reduced brokerage commissions, which implies going to the market in a better position than an individual investor, who ultimately benefits from it.

Liquidity

Daily liquidity. Regulation requires collective investment institutions to value their portfolios on a daily basis, and to maintain enough cash to reimburse, at market value, SICAV or mutual fund’s shares should any investor decide to sell.

Safety

Vehicles are listed on Spain’s Alternative Stock Market (MAB, for its acronym in Spanish). Therefore, they are subject to the supervision of the Spanish Securities & Exchange Commission (CNMV). In addition to the advice from Invexcel Patrimonio, they count with an asset manager and a depository bank ensuring appropriate regulatory compliance.

Diversification

Investors access to a wide portfolio of securities, both in terms of markets (e.g. Spain, UK, Germany, USA, etc.) and assets (e.g. stocks, bonds, monetary, currencies, etc.), which would be difficult to replicate individually. This allows reducing risk and volatility.

Tax Benefits

Better Taxation

Profits obtained by SICAVs are taxed at 1% Corporate Income Tax rate, while shareholders will not be taxed until they withdraw their investment. However, those who directly invest in stocks are taxed on capital gains obtained, sale of subscription rights and dividends received at the rates established for Savings Income in Spain (i.e. 19%, 21%, or 23%, for natural persons) or via the Corporate Income Tax (i.e. 25% for legal persons).

Furthermore, shareholders requiring an income from their portfolio, may sell SICAV’s shares, tailoring the amount of this “dividend” in time and amount, deferring the payment of applicable taxes.

Convenient Portfolio Turnover

SICAVs easily adapt to the market’s swings, making the appropriate purchases/sales at any time, generating returns taxable at the 1% applicable rate. Thus, final tax payment is deferred until the final sale of the vehicle’s shares, increasing the invested capital volume and, therefore, the chances of obtaining a profit during the investment period.